A chief audit executive is an advanced audit position that requires overseeing various internal auditing departments for a financial company. This is a senior leadership position, so many years of experience in the audit field are usually necessary. There are usually hiring and disciplinary duties in this position. The chief audit executive should work to create and manage an efficient and qualified audit team. The executive should work with various branches within the company, such as the legal department, risk management department, and compliance department. It is also important to work with outside auditors in order to determine the company’s risk and what needs to be done to achieve compliance. The executive needs to gain information from these parties in order to create a plan and strategy for internal audits.
Chief Audit Executive Tasks
Identify and implement control and compliance initiatives across the organization.
Conduct audits, communicate with departments, and report on audit results.
Set auditing strategies and goals, overseeing implementation and schedules.
Oversee staff, mentoring and developing their skills.